The GST Council announced that GST annual return is not required for small businesses with a turnover less than Rs. 2 crores. Filing of GSTR-9 for taxpayers whose turnover does not exceed Rs. 2 crore is not mandatory for financial years 2017-2018 and 2018-19.
Corporations must file an Annual Return, which confirms that the shareholders and directors have held meetings for the previous year.
Section 370 – 378 of CAMA (2004) and Chapter 16 of CAMA (2020) make filing annual returns every year a requirement for every company in Nigeria, except for companies with one member.
Singapore’s annual return provides information about the company’s directors, shareholders, and financial statements, serving as a snapshot of the company’s performance and health.
Different companies submit their annual returns at different dates, depending on when they hold their Annual General Meeting. Submission is a statutory requirement under the Companies Act.
Companies Made Easy provide a filing service to keep companies compliant. Late filing penalties apply.
The annual return must be filed by all GST registered taxpayers. It consists of details like taxes paid and refunds claimed.
An annual or annualized return shows how much an investment has increased on average each year. Annual return can be determined for various assets to compare returns.
It is different from the annualized return, which calculates the average rate of return over a time period.
The annual return is the income generated on an investment as a percentage of the capital invested and provides details about the compounded return earned yearly.
To calculate a mutual fund’s annualized return, you need to know the total return and the time period. Annualized return shows the annual rate of growth over the investment period.
Annual returns allow for comparing diverse investments. Consistent returns suggest lower risk while fluctuating returns indicate higher risk.
Most charitable nonprofits recognized as tax-exempt must file an annual IRS return. Exceptions are few, like churches and government groups. Donors can claim deductions over $250 by keeping contemporaneous written acknowledgment.
If a nonprofit doesn’t file a 990 for 3 years, the IRS automatically revokes its tax-exempt status. Late filing has penalties.
The income threshold requiring you to file a return depends on the type, age, and status.
To keep tax-exempt status, nonprofits must make money from activities related to their status. "Unrelated" activities may create taxable income reported to the IRS.
Income thresholds for 2023 are $12,950 for singles under 65 and $14,700 if 65 or older. For joint married filers under 65, the amount is $25,900; if one spouse is under 65 and one is 65 or older, it’s $27,300; if both spouses are 65 or older, the threshold is $28,700.